UK - The £750m pension fund of Gallaher, the international tobacco manufacturing firm, has dumped Cazenove from a £110m UK equity brief and appointed Fidelity Investments in its place. The switch took place last month.
Fidelity will run the money on a specialist basis, with a brief to outperform the FTSE All-Share by 1%. Pensions manager Allison Morris said the scheme was particularly impressed with Fidelity’s p...
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